Springfield, IL… State Representative Lindsay Parkhurst (R-Kankakee) has sponsored legislation aimed at reviving and redeveloping the stagnant area around the Kankakee River. House Bill 335 amends the River Edge Redevelopment Zone Act to allow for a zone in Kankakee.
“The city of Kankakee is the perfect candidate for this kind of legislation,” Rep. Parkhurst said. “The river is vital to our city and our community should be able to participate in this successful growth initiative.”
The River Edge Redevelopment Zone Act, passed in 2006, is currently authorized only for Aurora, East St. Louis, Elgin, Peoria, and Rockford. The law is designed to help stimulate the economy adjacent to rivers in Illinois with property, sales, and income tax incentives.
“Kankakee County’s current enterprise zones have undoubtedly had a beneficial impact on the growth of the local economy,” Parkhurst continued. “However, like most of Illinois, areas in the 79th district surrounding the river are still suffering under economic stagnation. Similar to an enterprise zone, a redevelopment zone authorized through this act will help add to the economic progress being made.”
HB 335 has been assigned to the Revenue and Finance Committee and is awaiting a hearing.